Asetek closes $16 Million in series B financing

San Jose: Asetek, a player in liquid cooling and thermal management solutions announced that the company has completed its series B funding. DE Shaw Ventures led the $16 million round bringing the total investment in Asetek to nearly $38 million since the company was founded in 2000.

PCs are getting smaller, acoustics are becoming much more important, which means better thermal management is needed. People are tired of PCs sounding like jet engines when operating under load. Asetek has a solution that solves the thermal challenges by cooling both the CPU and the graphics in the popular small form factor PCs. This thermal management technology enables the small PCs to now deliver the same performance that previously required large bulky chassis. Noise is also minimized to provide a comfortable computing experience to the end user. Asetek enables a cost effective thermal solution that provides low acoustic noise together and high performance to be delivered in a small form factor chassis.

Andre Turenne, a Senior Vice President at the DE Shaw group said, "Asetek's business relationships with premiere OEMs such as HP, Acer and other leading PC OEMs are an impressive accomplishment. This validated our belief in the company's vision and future success."

According to Andre S. Eriksen, founder and CEO of Asetek, "The DE. Shaw group's staff and financial expertise are ideal to guide Asetek's expansion and growth. We will use the additional capital to add sales, marketing and technical resources to enhance our product offerings and expand OEM thermal management products into new markets."